Take a third of your income each month and save it. Decide whether you want to invest it in a portfolio of market options or invest it towards education or training in your field. Either way reducing your monthly expenditures by a third each month will be tough, sometimes something just can't be cut but having such a nice nest of savings is vital to helping keep you afloat during rough economic weather and getting you to soar during good weather.
Things to cut out to Save that 1/3-
Meals outside the home; no more grabbing lunch or dinners on the weekends. Home cooked meals with quality, healthy ingredients.
Coffees and smoothies.
New clothes. Put a moratorium on any new clothes for the next 12 months.
Cheaper gas, if your car really doesn't need the extra grade switch to lower grade every other time you fill up.
Get a weekend job and save all the money you make towards a future goal, whether that is retirement funds, an amazing trip or home repairs.
Don't charge anything, absolutely anything to any credit cards that you cannot pay back within the next 30 days in full and still save that 1/3.
Cut your cell phone service back to the absolute minimum.
Cancel all your entertainment subscriptions but one that you'll use throughout the week. Be it magazines, iTunes, netflix or cable cut it down to below what you think you can live with.
Here's a secret the marketing firms won't be sharing with you anytime soon: You can live and get by on less and even be happy.
All right now, you have read through this article go out there and get saving. I believe in you and you can dig, claw and bite your way to finical freedom from debt, money stress and a future that never looks like retiring is possible.